Question:

I went to college and have been negotiating my debt for some time now with the school. They recently sent my tuition to a debt collector and we settled on a price a lot lower than what I originally owe.

They say I can pay by credit card but just handing this much money over the phone seems really irresponsible because I’ve gotten messages from another debt collector as well.

Just to clarify, I owed around $10,000 and talked them down to $2,000. I’m able to pay them in full by next month and they said they agree to forgive the debt if its paid by April 31st. Is there anything I should know before I agree to this?

How do I know if they’re legit?

Answer:

Great question! People get scammed with this sort of phone call ALL THE TIME. Questions for you: Did they say April 31st, or by the end of next month?

Because… April 31st doesn’t exist… 😀

If someone was going to scam you, they would probably make up a date just to see if you catch on. Be careful, scammers can be very tricky. Often times, you can avoid being scammed by employing some attention to detail and using good common sense.

Anyway, if you want to make sure they are legitimate, ask them for verification of the debt. They are required to send that to you under the The Fair Debt Collection Practices Act (FDCPA).

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